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Iran tells world to get ready for oil at $200 a barrel as it fires on merchant ships
Iran's military warns oil could hit $200 a barrel due to regional security risks amid Gulf shipping attacks, while the International Energy Agency plans a historic release of 400 million barrels.
- Iran's military command spokesperson Ebrahim Zolfaqari warned Wednesday, according to Reuters, to 'Get ready for oil to be $200 a barrel' after three more ships were hit in the Persian Gulf.
- The war that began on Feb. 28, 2026 has hindered production and shipping, with a March 7 oil depot fire in Tehran and strikes on vessels including a Thai-flagged cargo ship.
- Markets saw crude briefly near $120 on Monday, with Brent crude futures around $90 and West Texas Intermediate just under $86, while the International Energy Agency agreed to release 400 million barrels and G7 energy ministers backed strategic reserves use.
- Iran warned it will bar oil shipments through the Strait of Hormuz until U.S. and Israel stop bombing and said no oil will reach them, while analysts say $200 oil could push U.S. gas prices above $5 a gallon from $3.57.
- Around the globe, roughly 20% of oil flows pass through the Strait of Hormuz, and G-7 heads will discuss stockpile releases as prices have risen at least 50% since the war started.
76 Articles
76 Articles
HPCL, other OMC stocks tumble 4% as oil surges back above $100; Iran warns prices can hit $200
Oil marketing company shares tumbled as crude prices surged past $100 per barrel following Iran's attacks on Middle Eastern oil tankers. Iran warned of prices potentially reaching $200, escalating regional tensions and impacting global supply routes. This volatility is expected to pressure OMCs' margins and cash flows.
Dow Futures Sink 475 Points, Oil Spikes Over 7% As Iran Warns Of $200 Price Tag And Trump Declares 'We Won'
On Wednesday evening, U.S. stock futures slid while oil prices surged as escalating tensions in the Middle East rattled global markets. Stocks Fall As Oil Prices Surge Dow futures fell 475 points, or 1.00%, to 46,973. S&P 500 futures declined 57.5 points, or 0.85%, to 6,722, while Nasdaq 100 futures dropped 220.5 points, or 0.88%, to 24,763. Meanwhile, oil prices surged sharply. WTI Crude April 26 futures rose 7.53% to $93.82 per barrel, while B…
Pressing to raise the cost of oil barrel, Iran aims to destabilize the economy globally
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